Billy_Bob
Diamond Member
Now with contraction ongoing into the third quarter we are officially in a recession. Major retailers are now cutting jobs during a time when they are usually gearing up for the holidays. Walmart, Target, and many others are not hiring for the holidays. Just in time for the midterm elections the jobless rate is going to skyrocket. Many retailers are allowing attrition to happen as they see profits shrink.
US economy shrank by 0.6 percent in second quarter — signaling recession
The US Commerce Department issued a revised reading of second quarter figures on Thursday.
nypost.com